Kanzhun (NASDAQ:BZ) Is Experiencing Growth In Returns On Capital
Kanzhun (NASDAQ:BZ) Is Experiencing Growth In Returns On Capital
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at Kanzhun (NASDAQ:BZ) and its trend of ROCE, we really liked what we saw.
如果您不確定下一個多倍增長行業板塊從哪裏開始，以下是幾個關鍵趨勢值得關注。 其中一種常見方法是嘗試尋找一家資產類型爲所有板塊的公司。 簡單來說，這些業務都是複合機器，意味着它們不斷地將賺來的錢再投入到更高的收益率中。 然而，經過簡短的數字檢查後，我們認爲韋爾股份（SHSE:603501）未來不具備多倍增長的潛力，但讓我們看看原因。什麼是資本僱用回報率（ROCE）？ROCE是一個企業年度稅前利潤（其回報）與企業資本僱用之間的比率。在 Enphase Energy 的計算公式是：資本僱用回報率=利息和稅前收益（EBIT）÷（資產總額-流動負債）。所以，Enphase Energy 的資本僱用回報率爲9.9%。單獨來看，這是一個較低的資本回報率，但它與行業平均回報率相當。以上你可以看到，Enphase Energy 的當前資本僱用回報率與之前的回報率相比如何，但從過去只能知道這麼多。如果你想看看分析師對未來的預測，你應該查看我們免費提供的 Enphase Energy 分析師報告。數量如果一個公司的資本使用效率很高，看到這條消息，通常意味着它具有出色的業務模式和充足的盈利再投資機會。因此，當我們看到康準（納斯達克股票代碼：BZ）及其ROCE的趨勢時，我們真的很喜歡我們所看到的。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較，但過去只能知道這麼多。如果您感興趣，可以查看我們免費的蒙托克可再生能源分析師報告，了解分析師的預測。
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Kanzhun:
ROCE是一個公司每年實現的稅前利潤（回報）相對於業務中使用的資本的度量。分析師使用這個公式來計算康準的ROCE:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資本僱用回報率=利息和稅前收益（EBIT）÷（總資產-流動負債）
0.053 = CN¥762m ÷ (CN¥19b - CN¥4.5b) (Based on the trailing twelve months to March 2024).
0.053 = 7.62億元 ÷ （190億元 - 45億元）在Elevance Health上，我們已經注意到的趨勢是相當令人放心的。數據顯示，過去五年資產回報率大幅提高至15％。投資所用資產的規模也增加了30％。這表明有很多機會進行內部資本投資，並以更高的速度不斷增長，這種組合在多倍增長方面很常見。.
Therefore, Kanzhun has an ROCE of 5.3%. In absolute terms, that's a low return but it's around the Interactive Media and Services industry average of 6.4%.
因此，康準的ROCE爲5.3%。絕對來說，這是一個低迴報，但它大約等於互動媒體和服務行業的平均水平6.4%。
Above you can see how the current ROCE for Kanzhun compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Kanzhun for free.
上圖顯示了康準當前ROCE如何與其先前的資本回報率相比，但是從過去只能了解到這麼多。如果您願意，您可以免費查看分析康準的預測。
What Does the ROCE Trend For Kanzhun Tell Us?
康準的ROCE趨勢告訴我們什麼？
The fact that Kanzhun is now generating some pre-tax profits from its prior investments is very encouraging. Shareholders would no doubt be pleased with this because the business was loss-making four years ago but is is now generating 5.3% on its capital. Not only that, but the company is utilizing 856% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.
康準現在從以前的投資中獲得一些稅前利潤非常令人鼓舞。股東無疑會對此感到高興，因爲這個企業四年前還在虧損，但現在已經能夠爲其資本創造5.3%的收益率。不僅如此，公司現在比以前利用的資本高出856%，但這是可以預料的，因爲公司正在努力實現盈利。這可以告訴我們，該公司有很多能夠創造更高回報的再投資機會。
On a related note, the company's ratio of current liabilities to total assets has decreased to 24%, which basically reduces it's funding from the likes of short-term creditors or suppliers. So shareholders would be pleased that the growth in returns has mostly come from underlying business performance.
相關的是，該公司的流動負債與總資產的比率已經降到24%，這基本上減少了來自短期債權人或供應商等方面的資金。因此，股東會高興地看到收益增長主要來自潛在業績表現。
The Bottom Line
還有一件事需要注意的是，我們已經確定了上海醫藥的2個警告信號，了解這些信號應該成爲你的投資過程的一部分。
Overall, Kanzhun gets a big tick from us thanks in most part to the fact that it is now profitable and is reinvesting in its business. Given the stock has declined 43% in the last three years, this could be a good investment if the valuation and other metrics are also appealing. With that in mind, we believe the promising trends warrant this stock for further investigation.
總體而言，康準得到了我們的高度評價，這主要歸功於它現在已經盈利並正在重新投資業務。考慮到該股票在過去三年下跌了43%，如果估值和其他指標也吸引人，這可能是一個不錯的投資機會。鑑於這一點，我們認爲這個有前途的趨勢值得進一步調查。
One more thing, we've spotted 1 warning sign facing Kanzhun that you might find interesting.
此外，我們還發現了面臨康準的1個警告信號，您可能會感興趣。
While Kanzhun may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
雖然康準目前的回報率可能不是最高的，但我們已經編制了一份目前收益率高於25%的公司列表。請在此處查看免費列表。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
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